PE Fund Investments
TPG to acquire Poonawalla Housing Finance for Rs.3,900-Cr
Private Equity investor TPG, via TPG Capital Asia, is to acquire Pune-headquartered Poonawalla Housing Finance Ltd (PHFL), a subsidiary of Poonawalla Fincorp Ltd, at a pre-money valuation of INR 3,900 crore. TPG will also infuse additional equity of INR 1,000 crore to support the firm's growth. Ambit acted as the exclusive Financial Advisor to Poonawalla Group on this transaction. PHFL is a pan-India player in the affordable housing finance segment with 153 branches spread across 20 states. As of Sep 2022, PHFL had assets under management (AUM) of over INR 5,600 crore comprising affordable home loans (64%) and loans against property (36%) with an average ticket size of INR 10 lakh.
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